Elon Musk has become the world’s first person to hit a net worth of $500 billion, driven by a Tesla rebound and surging valuations of his private ventures, including xAI and SpaceX.

Musk’s milestone came Wednesday, as Tesla shares closed 3.3% higher, pushing his net worth to $500.1 billion, according to Forbes. The rally added over $6 billion in a single day, reaffirming Musk’s position at the top of the billionaire ranks. Advertisement

The Tesla CEO owns over 12.4% of the electric vehicle company, whose stock has climbed 14% this year despite weak car sales and tight margins that have weighed it down relative to peers in the “Magnificent Seven” tech stocks.

Musk’s renewed focus on Tesla has been pivotal. Board chair Robyn Denholm said last month the billionaire was once again “front a

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